Common use of Pre-financing Clause in Contracts

Pre-financing. The European Commission will provide a payment of pre-financing of from 50% up to 80% of the sum referred to in Article 3(2) of the Special Conditions less contingencies within 45 days of receiving the agreement duly signed by the Organisation. The level of pre-financing referred to above shall be set at a level of between 50% and 80% in 5% increments taking into account the past record of the Humanitarian Organisation as regards timely submission of final report, budget execution rate and risk profile.

Pre-financing. The European Commission will provide a payment of pre-financing of from 5080% up to 8095% of the sum referred to in Article 3(2) of the Special Conditions less contingencies within 45 days of receiving the agreement duly signed by the Organisation. The level of pre-financing referred to above shall be set at a level of between 5080% and 8095% in 5% increments taking into account the past record of the Humanitarian International Organisation as regards the timely submission of final report, budget execution rate and risk profilereports.